,i #aai? ,,congress #b;d ,session ,h4 ,r4 #ajeaj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,septemb] #ba1 #bjbf,mr4 ,b]gman introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to e/abli% a settlem5t program = disputes relat+ to syndicat$ cons]vation easem5ts & to am5d ! ,int]nal ,rev5ue ,code ( #aihf to cl>ify ,congressional int5t ) respect to su* easem5ts4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,cons]vation ,easem5t ,resolution & ,integrity ,act ( #bjbf or ! ,,c]i ,act ( #bjbf4 #b4 ,settlem5t program = cons]vation easem5t d$uctions 7a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y %all1 9 consultation ) ! ,national ,taxpay] ,advocate1 e/abli% ! ,cons]vation ,easem5t ,resolution ,program to provide = ! resolution ( any dispute relat+ to a cov]$ transaction4 7b7 ,treatm5t ( p5d+ disputes ,dur+ ! p]iod beg9n+ on ! date on ! enactm5t ( ?is section & end+ on ! date on :i* ! ,secret>y e/abli%es ! program "u subsection 7a7-- 7#a7 ! ,secret>y may n initiate a dispute ) respect to any cov]$ transaction1 & 7#b7 ! /atute ( limitations ) respect to any dispute relat+ to a cov]$ transaction %all be toll$4 7c7 ,t]ms ( settlem5t 7#a7 ,9 g5]al ,9 ! case ( any dispute relat+ to a cov]$ transaction-- 7,a7 9 ! case ( a cov]$ transaction relat+ to a qualifi$ easem5t1 ! ,secret>y may n assess any defici5cy or p5alty unless-- 7i7 ! donee organization 0 n a qualifi$ organization "u section #agj7;h77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf at ! "t ( ! contribution1 7ii7 ! cons]vation easem5t 0 n grant$ 9 p]petuity or ! cons]vation purpose has be5 mat]ially impair$1 7iii7 ! taxpay] fail$ to obta9 & atta* a qualifi$ appraisal z requir$ by section #agj7;f77#aa7 ( su* ,code1 7iv7 ! taxpay] kn[+ly p>ticipat$ 9 a fraudul5t transaction1 or 7v7 ! claim$ value ( su* transaction con/itutes a gross valuation mis/atem5t 7z def9$ 9 section #fffb7;h77#b7 ( su* ,code71 7,b7 9 ! case ( a cov]$ transaction relat+ to an easem5t :i* is n a qualifi$ easem5t b ) respect to :i* ! cons]vation purposes are sub/antially pres]v$1 ! am\nt ( any defici5cy1 p5alty1 or int]e/ det]m9$ ) respect to su* transaction %all be r$uc$ by n less ?an #hj p]c5t1 & 7,c7 no p5alties may be impos$ "u sections #fffb1 #fffb;,a1 or #fffc ( su* ,code4 7#b7 ,requirem5ts to demon/rate kn[+ p>ticipation 9 fraud ,= purposes ( p>agraph 7#a77;,a77i71 a det]m9ation ( kn[+ p>ticipation 9 a fraudul5t transaction-- 7,a7 may only be e/abli%$ by direct1 docum5t$ evid5ce ( ! taxpay]'s own int5tional & willful conduct1 7,b7 may n be bas$ on con/ructive k1 neglig5ce1 recklessness1 or ! conduct ( any promot]1 advisor1 or o!r ?ird p>ty unless ! taxpay] _h actual k (1 & willfully p>ticipat$ 91 su* conduct1 & 7,c7 may n be bas$ solely or prim>ily on te*nical or me*anical non-compliance1 includ+ any failure to satisfy disclosure or report+ requirem5ts1 diff]5ces 9 valuation me?odology1 reliance on a qualifi$ appraisal1 or any deviation f adm9i/rative guidance lat] invalidat$ "u ! ,adm9i/rative ,proc$ure ,act4 7d7 ,proce$+s 9 c\rt ( ! ,unit$ ,/ates ,any proce$+ 9 a ,c\rt ( ! ,unit$ ,/ates :i* began be=e ! date ( ! enactm5t ( ?is section relat+ to a cov]$ transaction %all be /ay$ ^u motion ( any p>ty until a f9al disposition relat+ to su* proce$+ occurs "u subsection 7a74 7e7 ,paym5t 9 case ( f9al disposition ,9 ! case ( a cov]$ transaction ) respect to :i* a f9al disposition 0 rea*$ be=e ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y %all provide to ! taxpay] 79 su* mann] z ! ,secret>y det]m9es appropriate "u subsection 7a77 an am\nt equal to ! excess 7if any7 (-- 7#a7 ! am\nt ( any p5alty1 defici5cy1 or int]e/ paid by ! taxpay] "u su* f9al disposition1 ov] 7#b7 ! am\nt ( any p5alty1 defici5cy1 or int]e/ :i* w\ld be impos$ ) respect to su* taxpay] "u subsection 7c7 if su* case _h n rea*$ a f9al disposition be=e su* date4 7f7 ,valuation ,9 ! case ( any cov]$ transaction1 = purposes ( ?is section & su* ,code-- 7#a7 !re %all be a rebuttable presumption t ! value ( any cons]vation easem5t 7& ! fair m>ket value ( ! prop]ty7 z det]m9$ by a qualifi$ appraisal conduct$ on behalf ( ! taxpay] is accurate1 7#b7 ! burd5 ( pro( 9 rebutt+ su* presumption %all be cle> & conv9c+ evid5ce1 & 7#c7 ! ,secret>y may n conte/ su* presumption unless ! ,secret>y produces a qualifi$ appraisal :i* includes-- 7,a7 a detail$ explanation ( ! me?odology ( su* appraisal1 7,b7 comp>able sales data1 7,c7 a full description ( ea* assumption ^u :i* su* appraisal is bas$1 & 7,d7 an analysis ( ! highe/ & be/ use id5tifi$ 9 ! qualifi$ appraisal describ$ 9 p>agraph 7#a71 includ+1 if ! appraisal produc$ by ! ,secret>y applies a diff]5t highe/ & be/ use1 a detail$ explanation ( ! basis = su* diff]5ce4 7g7 ,co/s & c]ta9 fees aw>d$ )\t reg>d to net wor? ,any det]m9ation ( :e!r any p>ty is a prevail+ p>ty = purposes ( section #gecj7;c77#d7 ( su* ,code relat+ to a cov]$ transaction %all be made )\t reg>d to subp>agraph 7,a77ii7 !re(4 7h7 ,treatm5t ( =m #hhhf fil+s ,9 ! case ( any cov]$ transaction ) respect to :i* a taxpay] fil$ 7or caus$ to be fil$ on ! taxpay]'s behalf7 a ,=m #hhhf-- 7#a7 su* taxpay] %all be conclusively presum$ to h act$ 9 good fai? & )\t actual k t ! transaction 0 fraudul5t1 7#b7 ! ,secret>y %all n use su* fil+ z evid5ce ( fraud1 k ( fraud1 p>ticipation 9 an abusive transaction1 or z gr\nds to d5y1 r$uce1 or delay any relief1 settlem5t1 or refund available "u ?is section ) respect to su* transaction1 7#c7 no audit1 exam9ation1 en=cem5t action1 or p5alty may be initiat$ or su/a9$ relat+ to su* transaction solely or prim>ily on ! basis ( a taxpay]'s compliance ) ,=m #hhhf disclosure requirem5ts relat$ to ,notice #bjag-aj 7or any sub/antially simil> guidance lat] invalidat$ "u ! ,adm9i/rative ,proc$ure ,act71 & 7#d7 9 any adm9i/rative or judicial proce$+1 ! timely fil+ ( su* ,=m #hhhf %all con/itute mitigat+ evid5ce ) respect to any det]m9ation ( fraud1 p5alties1 int]e/1 or valuation disputes relat+ to su* transaction4 7i7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,cov]$ transaction ,! t]m cov]$ transaction means any syndicat$ cons]vation easem5t transaction1 z describ$ 9 ,int]nal ,rev5ue ,s]vice ,notice #bjag-aj1 ) respect to :i* a d$uction 0 claim$ = a contribution made be=e ,decemb] #cj1 #bjbb4 7#b7 ,qualifi$ easem5t ,! t]m qualifi$ easem5t means a cons]vation easem5t aris+ f a cov]$ transaction t meets ! foll[+ requirem5ts3 7,a7 ,! easem5t rema9s 9 effect4 7,b7 ,! cons]vation purpose ( ! easem5t has n be5 mat]ially impair$4 7,c7 ,! l& subject to ! easem5t cont9ues to s]ve a cons]vation purpose4 7,d7 ,! donee organization hold+ ! easem5t is a qualifi$ organization 7z def9$ 9 section #agj7;h77#c7 ( su* ,code7 & is actively monitor+ compliance ) ! easem5t t]ms4 7#c7 ,cons]vation purpose ,! t]m cons]vation purpose %all h ! mean+ giv5 su* t]m 9 section #agj7;h77#d7 ( su* ,code4 7#d7 ,dispute ,! t]m dispute means an audit1 exam9ation1 en=cem5t action1 or litigation4 7#e7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury or ! designee ( su* ,secret>y4 7#f7 ,qualifi$ appraisal ,! t]m qualifi$ appraisal has ! mean+ giv5 su* t]m 9 section #agj7;f77#aa77;,e77i7 ( su* ,code4 #c4 ,allocation ( ext+ui%m5t proce$s 9 cases ( po/-donation improvem5t n treat$ z disqualifi$ 7a7 ,9 g5]al ,section #agj7;h77#e77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ to read z foll[s3 7,a7 ,cons]vation purpose mu/ be protect$ 7i7 ,9 g5]al ,a contribution %all n be treat$ z exclusively = cons]vation purposes unless ! cons]vation purpose is protect$ 9 p]petuity4 7ii7 ,treatm5t ( ext+ui%m5t proce$s ,a cons]vation purpose %all n fail to be treat$ z be+ protect$ 9 p]petuity = purposes ( clause 7i7 m]ely because ( any provision ( an agreem5t relat+ to ! treatm5t ( po/-donation improvem5ts = purposes ( ! calculation ( ext+ui%m5t proce$s ) respect to su* easem5t4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to transactions ent]$ into aft] ,decemb] #ca1 #bjji4 #d4 ,cl>ification ( valuation ( cons]vation easem5ts 7a7 ,9 g5]al ,section #agj7;h7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraphs3 7#h7 ,valuation ,= purposes ( ?is subsection-- 7,a7 !re %all be a rebuttable presumption t ! value ( any cons]vation easem5t 7& ! fair m>ket value ( ! prop]ty7 z det]m9$ by a qualifi$ appraisal 7)9 ! mean+ ( subsection 7f77#aa77;,e77 conduct$ on behalf ( ! taxpay] is accurate1 7,b7 ! burd5 ( pro( 9 rebutt+ su* presumption %all be cle> & conv9c+ evid5ce1 & 7,c7 ! ,secret>y may n conte/ su* presumption unless ! ,secret>y produces a qualifi$ appraisal 7)9 su* mean+7 :i* includes-- 7i7 a detail$ explanation ( ! me?odology ( su* appraisal1 7ii7 comp>able sales data1 & 7iii7 a full description ( ea* assumption ^u :i* su* appraisal is bas$4 7#i7 ,highe/ & be/ use ,= purposes ( det]m9+ ! fair m>ket value ( any prop]ty subject to a qualifi$ cons]vation contribution 7includ+ = purposes ( any cov]$ transaction "u ! ,cons]vation ,easem5t ,resolution & ,integrity ,act ( #bjbf71 ! highe/ & be/ use ( su* prop]ty %all be tak5 into acc\nt 9 accordance ) g5]ally accept$ appraisal /&>ds 7includ+ ! ,uni=m ,/&>ds ( ,pr(essional ,appraisal ,practice71 include pot5tial uses = m9]al extraction1 m9+1 qu>ry+1 oil & gas developm5t1 or o!r developm5t ( m9]al rights :]e su* use is physically possible1 legally p]missible1 f9ancially feasible1 & maximally productive4 4 #e4 ,report 7a7 ,annual report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 & annually !reaft] = #e ye>s1 ! ,secret>y %all submit to ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives1 ! ,committee on ,f9ance ( ! ,s5ate1 ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives1 & ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate a report on ! implem5tation ( ?is ,act1 includ+-- 7#a7 ! numb] ( taxpay]s :o h appli$ = relief "u ! program e/abli%$ "u section #b7;a71 disaggregat$ by cov]$ transactions describ$ by p>agraph 7#a7 or 7#b7 ( subsection 7c7 ( su* section1 7#b7 ! numb] ( settlem5ts rea*$1 ! aggregate am\nts ( defici5cies1 p5alties1 & int]e/ :i* 7 n impos$ by reason ( section #b1 7#c7 ! numb] ( cases 9 :i* ! ,secret>y refus$ to (f] settlem5t t]ms consi/5t ) section #b7;c71 & ! basis = ea* su* refusal1 7#d7 ! numb] ( cases ) respect to :i* a paym5t 0 made "u section #b7;e7 & ! aggregate am\nt ( su* paym5ts1 & 7#e7 any recomm5dations = legislative or adm9i/rative *anges to improve ! effectiv5ess ( ?is ,act4 7b7 ,national taxpay] advocate review ,! ,national ,taxpay] ,advocate %all review ea* report submitt$ "u subsection 7a7 & %all submit to ! committees describ$ 9 su* subsection comm5ts1 f9d+s1 & recomm5dations ) respect to ! implem5tation ( ?is ,act1 includ+ any in/ances 9 :i* ! rights ( taxpay]s "u ! ,taxpay] ,bill ( ,rights h n be5 adequately protect$ ) respect to a qualifi$ easem5t 7z def9$ 9 section #b7;h77#b774